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Strong US Payrolls Sees Broad Strength For Local Currencies/EMFX

LATAM FX
  • The Brazilian Real is leading global gains following the US employment data, currently up 1.38% against the greenback.
  • USDMXN has continued it's descent in recent sessions, extending on losses below 20.50 and edging closer to the 50-day EMA at 20.3349.
  • As well as tonight's Colombia CPI data, next week markets will see inflation data from Chile, Mexico, Brazil and Argentina. Additionally, policy rate decisions from Banxico and the BCRP, where both are expected to continue their hiking cycles.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN down 0.79% at 20.3821
    • USDBRL down 1.38% at 5.5273
    • USDCLP down 0.43% at 810.76
    • USDCOP up 0.16% at 3875.66
    • BBG Dollar Index down 0.14% at 1161.91
    • JPMorgan EM Ccy Index up 0.58% at 55.063
    • S&P E-Mini Future up 27.25 points (0.58%) at 4700.25
    • BBG Commodity Index up 0.43 points (0.43%) at 103.0103
    • WTI Crude Oil (front-month) up $2.44 (3.1%) at $81.25
    • Gold is up $21.78 (1.22%) at $1813.34
    • Copper Futures up 1.75 (0.41%) at 433.70
    • US 10-Yr yield is down 6.3 bps at 1.4635%

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